Why don't we just call this what it is - "A Bailout of Labor Unions"! The Unions have controlled the U.S. Auto Industry for too long and outworn their usefulness. We still have the best Designers, Engineers, and Production Workers in the World, but something has to give and it should not be We The People of the United States. Put the "bailout" money into the hands of the American consumer and watch the economy recover. $428,000 to each Citizen over the age of 17 will move the economy like we have never seen it move and it will cost less than the AIG bailout!

The 110th Congress was sworn in Jan, 2007, so that would be 1 year 10 months, not "2-1/2" years.

The crisis was cooked in the books with the policies of the GOP policies long before, and the presiding president has had his way on tax cuts and deregulation for the past eight years...now it's the dems fault?

The Great Depression, for a large part, was due to non-regulation of the banking industry, and the highly leveraged climate of Wall Street.

The current recession was fueled by lenders eager to turn mortgages regardless of ability for the borrowers to pay long term (such as ARMs that once balloned had only one outcome). And no one was watching (deregulation)

These mortgages were then flipped to other institutions who then carved them up and sold them as mortgage backed securities. Once the defaults started hitting, these became next to worthless, and trillions of dollars evaporated.

A lot of blame to go around, but to say that was caused by the dems in congress for less than two years is laughable.

Shame on you who doubted our Greatest Leader's integrity and honor.

Don't worry about the small details that he earmarked $1 mil to the employer who raised his wife's salary by 150%, and he was heartfelt and honored by the endorsement from the war criminal who sold the war to the world, the very war based on which he got where is is.

it's payback time, folks.

OFFF,

Thanks for providing a litle historical background for those who only see these issues through partisan eyes!

A lot of blame to go around, but to say that was caused by the dems in congress for less than two years is laughable.

Brian,

The point is that since jan 2007, they have controlled the agenda that goes on in congress. They have not in al that time put forth a bill that would have limited sub-prime lending and restored reasonable limitations on what any one borrower would be allowed to qualify for.

Barney Frank was the point-man for the dems on pressuring for these kinds of unsafe lending practices.

Certainly over the years as OFFF has shown, BOTH parties have chunks of the "blame pie". But to sit there now and claim its all GWB fault is total BS!

Wow. Lots of sore losers here today. LOL

"Wow. Lots of sore losers here today. LOL"

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LOL....you can call us that if you wish, but soon you & all sore winners wil be joining us.

Now there are no more scripted rallies to attend or flowery speeches to deliver, Obama is about to find out its MUCH MUCH harder to actually produce results thanit is to promise and blame!

Everyone join together stop the bailouts!!!!!

The way a lot of us see it is that it's not just the Republicans who are 'losers' but all Americans-well, except for Ayers, Wright, the Black Panthers, Sharpton, Dohrn, Jackson, Oprah, Walters, Matthews, Olbermann,,,OK I guess there are a lot of folks up there with a thrill going up their legs right now.

You're right. When Obama is sworn in, he'll wave that Clinton magic economic wand and fix everything.

Or, you can get a clue and follow the money and it goes right back to the Socialist operations of Fannie Mae and Freddie Mac with the Social Democrats sitting right on top of it. And the lazy-butt Republicans who have done nothing about the GSEs,,,there again, if they did, they'd be accused of being racists and not wanting poor folks to have homes, so I guess that was a no win proposition from the get-go.

McCain was right, I believe from what I've been able to figure out-swallow the bitter pill and buy up the bad mortgages to unfreeze the credit.

BAILOUTS ARE COMPLEX BEASTS

Here is a workable plan with common sense for the U.S. Auto Industry -

Do not leave it to Paulson or Congress to come up with a creative plan or consider taxpayers' interests.

There is much creative talent hidden inside the U.S. Big 3 that has been smothered by mismanagement and the UAW.

I'm a union member myself, but am well aware of the pitfalls of that noble endeavor. These union leaders tend to be political and corrupt and routinely get their workers more money and benefits---considering decades of union elections, that adds up to a heck of a lot.

Those things, however, does the worker no good if the company folds.

BailOut!!!!

What really needs to be done
1. Buy up sub-prime mortgages...NOT at the companies cost or FMV but at a significant discount.
2. Reduce the homeowners mortgage by that discount and redue the mortgage terms this will keep people in their homes.
3. Tell the Big three to file Chapter 11 and tell the Unions that they will no longer pay the benefits.
4. Place regulation on all companies participating in the mortgage buy-back program from above.
5. In the future sell the mortgages for more than what was paid...Profit anyone!!!
6. For anyone who voted for Obama How can you increase spending, decrease taxes not possible. It's when he will break his promises not if.

For those of you who saying let the American auto industry go under are showing just what kind of moron's you are. If this industry goes under there won't be any recovery in America's economy. What a bunch of macaroon's.

Whatever the people in Washington are doing - giving out bogus loans or not regulating the industry or now proposing wild patches - they have certainly fixed the stock market - down $1,000 in 5 days.

I guess this is the flood of money leaving the US. Kind of like the manufacturing jobs the Clinton administration exported in all of their trade deals. Really glad the dems got into control in 2006 and were able to do things in so quickly - nice going.

Bailed out Chrysler years ago what is good for the goose is good for all the ganders, do for one do for all or don't do for anything or anyone. Sorry people out there if you don't like it. It is just the way everyone feels. What is good for one is good for all.

Rose, Chrysler got a loan and paid it back.
Now we are willing to give money to the big 3 and get nothing in return.
No bailout for the Union, who got the big 3 into the mess with inept mgt. Let the Union bail out the big 3 they have enough money, or did they spend it all on parties and retreats. The car companies in the south are doing fine and there is no union envolved. Look at Saturn.

If the purpose for bailing out the auto industry is to save jobs, then the government should only bail out the ones who didn't outsource their labor to other countries. GM is one of those company that didn't care about the jobs of those american citizens they laid off in order to out source to countries like mexico for a $1.50 an hour for labor, but GM what those same U.S taxpayers and others to bail them out. Now that is wrong on GM's part.

If GM, Ford, and Chrysler collapse America will go into a flat spin that it will never recover from.
The stock market will tank to the 5000 range because of the domino effect.
Even if this doesn't threaten your job now your 401K will lose another 20 to 30% of it's value.

Hey I got it!!! our country is in a financial freefall....LETS SPEND A FEW TRILLION!!!!